SaaS companies provide cloud-based products and solutions to customers. These kinds of businesses sell their product licenses in terms of subscription. After purchasing, users can access and use the particular products online through mobile apps in their comfort zone.
Suppose, an individual owns an online store and he/she has a requirement of a live chat installed on the specific website. Now, what he/she will do? That person will start searching a particular SaaS company. They will provide a trial version to personalize the chat window, the particular agent app etc.
Over the past year, the SaaS businesses are taking advantages of affiliate marketing strategy. They are an appropriate candidate for this approach. We all know that SaaS startups offer the online product (no delivery needed), therefore, the particular sales funnels are generally online completely. Affiliates can build their monthly paying customer base very easily and thus SaaS providers receive the advantages of a perfectly structured sales team, focusing on customer satisfaction and retention. For that reason, many SaaS startups have decided to frame customized affiliate programs. Experienced affiliates are providing them a great support.
The main advantage that a SaaS business offers to the customers is a free trial of its software. Free trials attract people to utilize a product that, in turn, helps SaaS startups in generating leads, acquiring knowledge about retention, and preventing initial chargebacks.
You might have developed any type of software product, but a free trial option is able to attract a large number of customers. These customers work as a basis for a successful and powerful SaaS affiliate program. Affiliates, as well as publishers, should lead users to an attractive page that can preserve their interest for a longer sales procedure.
Remember, a credit card requirement will alleviate the conversions. You need to find out the best possible ways to incentivize your affiliates for a particular product.
What is Affiliate Marketing?
Affiliate marketing is not a new concept, rather it has been there for almost two decades. From that period to now, significant changes have been taken place in this particular strategy. The changes were necessary because, in today’s digital world, people have become digitally advanced.
In simple words, affiliate marketing is one of the various marketing strategies in which online businesses pay commission to an external source or website for pulling traffic, as well as sales, via its referrals. It is one of the heavily used marketing strategies adopted by several businesses and this strategy is very significant nowadays. It has seen that various companies are operating the strategies of affiliate marketing.
The business world is complicated and full of strong competitions. More and more people are interested in doing business and thus the competition is increasing day by day. In this scenario, Affiliate Marketing is very significant and useful marketing strategy to market the brand. The more external source you have, more people will know about your product.
Why should you go for an affiliate program rather than other advertisement approaches?
Affiliate marketing offers a tremendous power and flexibility to an online business owner. We already know it is an afforadable marketing solution and as a result, it helps you to prevent yourself from investing your money on costly programs. You can make connections to lots of affiliates through this program. These people can help you in your business growth because they are already operating well-trafficked websites.
After setting a proper affiliiate program, you don’t need to do anything other than recruiting new affiliates and waiting for the sales. You can also use an affiliate marketing tracking software to simplify your work. The particular software will provide text, banner, and ads to affiliates. It is able to record the successful sales automatically. You can also assemble the commissions into proper invoices. You just need to send payments to your affiliates and the system will run continually.
Importance of Affiliate Marketing
Affiliate marketing has become a key approach for each and every business enterprise for growth. However, many people are still not aware of the importance of affiliate marketing in business. Through this strategy, the particular service or brand can gain immense popularity.
Affiliates introduce those products to folks, explain their values, and motivate them to make a purchase. Since affiliates also get benefits from this marketing strategy, they try their level best to popularize these products. It is a great way to gain a huge customer base and attract a large number of audiences to the particular product (s).
A properly structured affiliate marketing program is one of the best available advertising tools, as it offers incentives both for the merchant and affiliate. This marketing approach is greatly flexible and its benefits can’t be obtained with other ad programs.
Let’s discuss some great advantages of Affiliate Marketing in SAAS business:
One of the most obvious features for which SaaS product has become so much popular in the field of affiliate marketing is for the fixed, as well as recurring commission. After assessing the benefit, more and more people are getting inclined towards this marketing strategy and it will also be a good news for your SaaS product marketing.
For an instance, LiveChat has made a strong relationship with their customers. Averagely, one customer stays with them for ca. 2.5 years. If your clients make enrollment to your affiliate program and they have a good amount of customer base, then it will, in turn, brings a high amount of profit to your SaaS company.
Transparency along with Advanced Analytical Tools:
Affiliate marketing strategy does offer another tremendous advantage – monitoring of performance along with fair rules. Nowadays, SaaS companies are aware of the introduction procedure of transparency. They also know how to maintain the particular affiliate partners in a proper way. The cooperation rules are simplified and most of the processes are automated beautifully. You can also make use of modern tracking tools to make it further simpler. With its help, you can get better outlook about the day-to-day activity.
You have developed a software product and now you need to market it so that people can get to know about your product. It is very important to make an awareness of your product. Affiliate marketing will inspire your existing customers and new visitors to make an association with your company. This marketing strategy can generate profit for you, as well as your customers (who have enrolled your affiliate marketing program).
Every online business wants to rank high in the search engines’ ranking and SaaS is also not an exception. Top ranking means better visibility and user awareness because people generally put stress on the high-ranking websites. It will eventually help to convert the visitors into customers. Affiliate marketing is helpful in providing inbound links and these links are highly rated by search engines. This top ranking is very important for your SaaS business.
Affiliate marketing is one of the greatest marketing strategies because it offers a budget-friendly solution to your SaaS business. Now, you don’t have any requirement for sales staff or advertising professionals. All of these works will be performed by the particular affiliates (who have enrolled the specific program). You can use these savings in some other strategy.
A Great Marketing Strategy:
We all know that affiliates can’t generate money unless they got sales. It signifies that online businesses only pay for successful campaigns. It is a far better option than investing in advertising campaign because, in this scenario, you need to invest your money beforehand.
If you are an owner of the online business, then affiliate marketing helps you to save your money. Thus, they can invest this amount in our areas. Affiliate marketing is a proven and outstanding marketing strategy because it has been worked for the past two decades (despite various significant changes in the digital world). This marketing strategy is also able to control the online business. These strategies help owners to regulate all the rates and fees that eventually help the online businesses to frame a workable program that will work for them.
You will be inspired to know that Evernote, BigCommerce, SurveyGizmo, Aweber, Unbounce, LessAccounting, SuccessFactors, and Loop11 are leveraging the affiliate sales channel’s power to speed up their sales. A SaaS business owner can speed up his/her profitable growth by structuring or conducting an outstanding affiliate program.
The Bottom Line
Technology is progressing with new the inventions of techniques and approaches and it is a continuous process. If you want to reserve your place in the business world, then you need to adopt techniques relevant to your field. The marketing strategy is changing day by day and you need to adapt yourself to all these happenings. Affiliate marketing is a top-notch marketing strategy. You need to implement it in your business to see a high growth.
Affiliate marketing can be a breakthrough marketing strategy for a SaaS startup. As an owner of a SaaS business, it is very important to implement a proper set of marketing approaches for your business and affiliate marketing is one them.